FTSE 100 ticks up in mixed session for European markets

The blue-chip index rose 17 points to end the day on 8,205, a 0.2% increase.

The FTSE gained despite the ECB keeping interest rates unchanged on Thursday (Kirsty O’Connor/PA) (PA Archive)

The FTSE 100 nudged upwards on Thursday, but analysts urged caution after European Central Bank president Christine Lagarde warned about potential risks to economic growth across the bloc.

The blue-chip index rose 17 points to end the day on 8,205, a 0.2% increase.

It comes after the ECB kept interest rates unchanged on Thursday, with Ms Lagarde saying a move in September is “wide open”, while warning that risks to growth were “tilted to the downside”.

Chris Beauchamp, chief market analyst at online trading platform IG, said: “European markets managed to move higher this morning but the gains are slipping away as the session heads to a close.

“Christine Lagarde’s acknowledgement of growth risks tilted to the downside has put investors in a firmly risk-off mood.”

Christine Lagarde (John Stillwell/PA) (PA Archive)

France’s CAC 40 finished 0.21% up, while Germany’s Dax fell 0.4%.

Stateside, the S&P 500 was down 0.69% as markets were closing in London, while the Dow Jones was down 0.6%.

The pound was down 0.25% at 1.297 US dollars and was flat at 1.189 euros.

In company news, Sports Direct owner Frasers was the top riser on the FTSE 100 after it reported stronger profits following a “breakout year” supported by the acquisition of a raft of new brands.

The Mike Ashley-founded retail vehicle said adjusted pre-tax profits jumped 13% to £545 million in the year to the end of April as it benefited from improvement in its sports division.

Shares in Frasers closed 9.2% higher at 897p, with the positive sentiment helping to lift rival JD Sports.

Elsewhere, soft furnishings retailer Dunelm also made strong gains after it upgraded its annual profits outlook – shaking off concerns over cost-of-living pressures on consumers.

The 183-strong chain reported sales up 5% in its final quarter to June 29 at £399 million, up from growth of 2.6% in the previous three months, despite cooler weather hitting summer sales of outdoor furniture.

Dunelm shares were up 8.5% at 1,200p at the close.

Evoke, the recently-renamed betting firm behind William Hill, was a notable faller after missing earnings targets.

Shares slid by 14.2% to 74p after the company, which also owns 888, told shareholders its adjusted earnings for the first half of the year are between £35 million and £40 million below its expectations.

The price of a barrel of Brent crude oil was down 0.02% to 82.34 US dollars as markets were closing in London.

The biggest risers on the FTSE 100 were Frasers, up 75.5p to 897p, Schroders, up 18.4p to 395.2p, JD Sports, up 4.25p to 120.9p, WPP, up 20.6p to 747p, and Natwest Group, up 7.9p to 336.3p.

The biggest fallers on the FTSE 100 were Antofagasta, down 98.5p to 1899.5p, Melrose Industries, down 21.4p to 545.6p, easyJet, down 17.9p to 468.7p, Rolls-Royce, down 12.6p to 434.6p, and Intercontinental Hotels Group, down 216p to 8176p.